Primary dealers or bond houses should have a minimum capital base of Rs 250 crore to participate in the exchange traded currency futures market, the Reserve Bank of India said in a notification issued on Thursday. The move is expected to add some liquidity in the moribund futures market. “Exposure to currency futures will be … Read More →
The Reserve Bank of India revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committees to resolve stressed loans to micro, small and medium enterprises (MSMEs). “In order to enable faster resolution of stress in an MSME account, every bank shall form Committees for Stressed MSME,” RBI said … Read More →
The Securities and Exchange Board of India (Sebi) has asked mutual fund houses to clearly mention the actual commission, including gifts and junkets, given to distributors against the investments of an individual. In a circular sent to all fund houses on Friday, the market regulator said this information should be included in the six-monthly Consolidated … Read More →
The Securities and Exchange Board of India is mulling doing away with the requirement of a fresh KYC (Know Your Client) for opening of new accounts in securities market if the investor has got a bank account. Under the proposed move that may take a couple of months to come into effect, the market intermediaries … Read More →
The average annual recovery rate under Debt Recovery Tribunal (DRT) mode was estimated to be around 25 per cent, said a report. “Consequently, considering a four-year wait to dispose all the cases pending under DRT mode, opportunity cost to banks and financial institutions was estimated to be around Rs 25,000 crore,” CUTS International said in … Read More →
You may have heard both ISO certification and ISO registration being used in reference to the ISO quality system. Some people in the ISO business will tell you that the term ISO certification is not correct, that ISO registration is the correct term. According to standardized definitions in the ISO standard ( See ISO/IEC 17000, … Read More →
Markets regulator Sebi on Friday refused to lift market ban on 21 entities in cases related to suspected tax evasion and money laundering through stock trading platforms. The entities are alleged to have misused the securities market system to artificially increase the share price of Radford Global and Moryo Industries for providing long-term capital gain … Read More →
FDI in Non-Banking Finance Companies (NBFC) is allowed up to 100% under the automatic route in only the following activities: Merchant Banking Under Writing Portfolio Management Services Investment Advisory Services Financial Consultancy Stock Broking Asset Management Venture Capital Custodian Services Factoring Credit Rating Agencies Leasing & Finance Housing Finance Forex Broking Credit Card Business Money … Read More →
The Reserve Bank of India (RBI) has proposed to form Acceptance Development Funds (ADFs) to encourage wider deployment of card acceptance infrastructure, and rationalise Merchant Discount Rate (MDR) on debit cards – a fee every merchant has to pay to the bank to access their payment infrastructure. “The high cost of acquisition and poor revenue … Read More →
India’s Outward Foreign Direct Investment (OFDI) dropped to $1.85 billion in the month of February 2016 as against $2.92 billion in the same month of last year. According do the data provided by the Reserve Bank of India (RBI), outward investments in equity, loan and guaranteed issue stood at $471.5 million, $252.8 million and 1.12 … Read More →